📈Stocks Rally on Fed Hike.🏦

Stocks rallied after the Fed Chairman Jerome Powell spoke and stated that the future rate hikes are going to be “data driven.” This was a shift from the plan laid out earlier of successive rate hikes. Today’s vote for a 75 basis point hike was 12-0 which is impressive. He remains committed to using PCE index over the CPI index. Coincidentally PCE index comes out Friday and will be watched closely. For now we need to see GDP tomorrow at 8:30 am. Consensus is .5% on 2nd Quarter GDP sales. After the bell Facebook issued their earnings report and and it was abysmal. The stock traded down. The two most damaging parts were the decline of revenue next quarter by 10% and the statement by Zuckerberg. He explained that years from now the Metaverse will net them billions. The problem is in the meantime their core business is eroding. Investors want to know how you are going to grow but also how you are going to make money now. Between this call and Teledoc symbol TDOC which was down 20% after hours there were not many bright spots this evening. The one bright spot that stands out is LRCX and TXN. Both semiconductor companies beat expectations in both revenue and earnings. Make sure to look at the semiconductor channel in the charts below.

Technically what happened today was perfect and if we did not have the GDP tomorrow I would be more confident. With Janet Yellen speaking at 8:30 am I am apprehensive so I locked in a lot of today’s gains. Considering that the IWM and SPY both reversed and made higher highs staying long made sense. I do think we get volatility during the day that will be tradeable for short term traders. Also tomorrows earnings are huge. AMZN and AAPL are on deck. Tonight’s video below focuses on trades that were done today and how you can replicate them. It also focuses on the names TSLA META TDOC and how to trade them tomorrow. It is hyper specific and will help everyone despite their experience level. Let’s get to it!

Let’s Look at our Indexes !

Let’s Look at our Stocks !

Subscribe and turn on notifications. There is a new daily video after the market Monday through Thursday! It’s called the Top 5 in 5. It consists of the best five ideas for the next day and I condense it into 5 minutes. It’s loaded with actionable ideas. It’s worth your time. It is hyper specific and actionable. Tonight’s includes Longs and Shorts. When you subscribe turn on ALL notifications so you are notified of the daily Premarket live shows ,Top 10 Weekly Buy List and educational videos. Also, Once subscribed you will receive private content on YouTube. The video below is the Top 5 from tonight and focused on several technical levels. Pay close attention to what is said about how to trade META and TDOC tomorrow!

As always all investment decisions need to be made by the individual. We all have different risk profiles. No two people trade the same. Understand the buy points, stop losses, trims are suggestions. You need to develop your own process. I am willing to help. If you have questions email me Arete@Aretetrading.net. For example, to stop losses, I like to see them close. That does not mean that fits everyone’s risk profile.

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